Quote:
Originally Posted by fistpoint
Show me a high yield savings or CD that is over 1.9%? And that's assuming people get approved for that rate. Assuming they do, where are these CD's and accounts?
There is maybe 1 or 2 banks in the US offering 2%, which makes the process moot. CD's also are around 1%, half of what your APR for the loan would be in the best scenario.
You'd have to find the absolute best savings or CD just to break even after paying the taxes on the gains. All that effort for what would amount to mere dollars saved.
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YOu guys are lucky to get 1.99% loans. THe best We have here in the uk is about 6% on loans over £7500. The best saving are 4.2% TAX Free. So unless I take a gamble on the stock market, the lowest cost option for me is to buy the car outright with no loan. The second best option is to take equity out of the house (if you have it) and take advantage of the low morgage interest rates.
So i'm buying my £27,345 GT 86 outright. Sound crazy to you guys I bet.